Profile Technologies Inc. Announces Contract to Demonstrate Technology in Saudi Arabia

Business Wire, Dec 4, 1998

NEW YORK--(BUSINESS WIRE)--Dec. 4, 1998--PROFILE TECHNOLOGIES, INC. (Nasdaq:PRTK), Profile Technologies, Inc., announced today that it has entered into a contract with Saudi Arabian Oil Company to demonstrate its technology at a site in Saudi Arabia this month.

According to Chief Executive Officer G.L. Scott: "This contract is part of our effort to initiate overseas operations. Thus far, most of our business has been centered on the North Slope of Alaska. By expanding our efforts overseas, we hope to move towards year round operations that are impossible in Alaska because of climate considerations."

Terms of the contract were not disclosed, but Mr. Scott said that the contract would involve the testing of up to 30 pipe segments underneath road crossings.

Profile Technologies provides a service using proprietary technologies for the non-invasive and non-destructive inspection and evaluation of the condition and integrity of above and below ground pipelines. This service was developed for use by the oil, natural gas, chemical and utilities industries.

For further information, visit our web site at WWW.PROFILETECHNOLOGIESINC.COM or contact Debra Savishinsky at 516/365-1909, Fax 516/365-6491.